Make a Wish Canada & The Mortgage Centre

Posted by Richard Kitts on Thu, Aug 18, 2016 @12:30 PM
Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, The Mortgage Centre, mortgage broker KW, Make a Wish Canada, Make a Wish Foundation

Millennials not giving up on the detached-home dream, despite soaring record-high prices

Posted by Richard Kitts on Thu, Aug 11, 2016 @03:36 PM

Home Prices in Kitchener, Waterloo, Cambridge and surrounding Waterloo Region are still relatively low compared to Toronto.   Toronto home prices are quickly becoming out of reach for most purchasers, however this is causing purchasers to look beyond the GTA which will bring more First Time Buyers and move up buyers into the Waterloo Region. 

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, The Mortgage Centre, Real estate market, mortgage broker KW, millennials, toronto real estate board, OREA

Bank of Canada holds interest rate steady at 0.5%

Posted by Richard Kitts on Thu, Jul 14, 2016 @03:06 PM

Bank warns again about 'financial vulnerabilities' in red hot Toronto and Vancouver housing markets

The Bank of Canada held its benchmark interest rate steady at 0.5% on Wednesday, but says overly high house prices in some cities and the threat of Brexit are risks to Canada's economy down the line.

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, stephen poloz, Bank of Canada, The Mortgage Centre, interest rate, mortgage broker KW, Canadian economy, housing market, Brexit

Canada’s labour market not keeping up with ‘changing times’: report

Posted by Richard Kitts on Tue, Jul 12, 2016 @02:44 PM

The commodities price crash is exposing glaring holes in Canada’s labour market.

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, The Mortgage Centre, mortgage broker KW, Canadian labour market, taxes, (EI) Employment insurance, Old Age Security

Jobless claims, hiring data brighten U.S. labour market

Posted by Richard Kitts on Tue, Jul 12, 2016 @11:03 AM

U.S. private payrolls increased more than expected in June as small businesses ramped up hiring, and fewer Americans applied for unemployment benefits last week, suggesting a rebound in job growth after May’s paltry gains.

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, The Mortgage Centre, unemployment rate, mortgage broker KW, U.S. economy, U.S. labour market

How simple changes to your mortgage could mean big savings

Posted by Richard Kitts on Fri, Jul 08, 2016 @03:37 PM

OTTAWA -- When shopping for a mortgage, most Canadians focus on the interest and how much they can save with a lower rate.

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, Mortgage Payments, The Mortgage Centre, interest rate, mortgage broker KW

Banking regulator cracking down on mortgage lending as home prices surge

Posted by Richard Kitts on Fri, Jul 08, 2016 @01:10 PM

Concerned over rising home prices and record household debt levels, Canada’s banking watchdog has issued a stern warning to the country’s financial institutions.

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, The Mortgage Centre, mortgage broker KW

Record number of home sales recorded in first half of year

Posted by Richard Kitts on Wed, Jul 06, 2016 @03:17 PM

Residential property sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) had yet another record month with 740 properties sold in Kitchener-Waterloo and area in the month of June. This represents a 13.1 per cent increase compared to the June of 2015, and ranks as the most active June on record.

During the first half of 2016, there were 3,519 home sales, 18.0 per cent above last year’s total for the same period and 22.8 per cent above the 5-year year-to-date average.

“This is the highest number of home sales we have ever recorded in the first half of the year” said Charlotte Zawada, President of the KWAR.

On a monthly basis, home sales were 29.7 per cent above the five-year average for the month of June. As sales continue their upward trend, active residential listings continue to remain depressed in comparison to the same time last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of June sat at 1,199, which is 33.9 per cent lower compared to same period last year. This translates to 51.4 per cent fewer available listings on the market today than the same time last year.

June’s sales included 485 single detached homes (up 13.6 per cent) and 145 condominium type units (up 2.1 per cent) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 46 Semi-detached homes (up 9.5 per cent) and 54 freehold townhouses (up 42.1 per cent).
The average sale price of all residential sales in June increased 11.2 per cent to $390,144 compared to June 2015.

“With fewer listings on the market combined with an increased interest in people wanting to live in the Region, we’re seeing upward pressure on home prices,” says Zawada. Single detached style homes sold for an average price of $451,289 an increase of 10.7 per cent compared to last year. The average sale price for an apartment style condominium was $232,999, an increase of eight per cent. Townhomes and semis sold for an average of $277,672 (up 14.5 per cent) and $296,572 (up 10.6 per cent) respectively.

Important information

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®. With a REALTOR® at your side, you can have all the facts you need to make an informed decision.

The Kitchener-Waterloo Association of REALTORS® (KWAR) is a member focused not-for-profit Association representing over 1,200 local REALTOR® members. The Association was formed in 1937 and continues to provide a robust Multiple Listing Service® (MLS®) System, continuing education, and related services to its members. The term REALTOR® is a trademark identifying members in good standing of CREA who provide real estate brokerage services in compliance with CREA's By-Laws and Rules, the REALTOR® Code, and in compliance with all applicable federal and provincial laws and regulations. The MLS® trademark is also owned by CREA and is used by the KWAR under license. The MLS® Marks identify professional services rendered by members in good standing of CREA to effect the purchase and sale of real estate as part of a co-operative selling system (the "MLS® services"), in compliance with CREA's By-Laws and Rules, the REALTOR® Code, and in compliance with all applicable federal and provincial laws and regulations. The MLS® System of the KWAR is operated in association with the MLS® Marks. An MLS® System includes an inventory of listings of participating REALTORS®, and ensures a certain level of accuracy of information, professionalism and co-operation amongst REALTORS® to affect the purchase and sale of real estate.All of KWAR's listings may be found on the public website: www.REALTOR.ca.

Visit external site

President
Charlotte Zawada

For more information,
please contact:

(519) 576-1400
inquiries@kwar.ca

View article here>>

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, The Mortgage Centre, mortgage broker KW, KWAR, record home sales

High demand, low supply makes for ‘stressful’ housing market

Posted by Richard Kitts on Mon, Jun 20, 2016 @12:03 PM

Getting a full approval, including the property being purchase, will help in securing an offer!  With Sellers having the upper hand, a purchaser with a  non-condition or very limited conditions, will have more power when presenting an offer than other purchasers with conditions and possibly higher bids.

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: mortgage broker kitchener waterloo, The Mortgage Centre KW, mortgage broker waterloo, mortgage broker, first-time homebuyers, The Mortgage Centre, mortgage broker KW, Waterloo housing market, low interest rates, canada mortgage and housing corporation, Cambridge Association of Realtors

May residential sales hit all time high

Posted by Richard Kitts on Thu, Jun 16, 2016 @01:04 PM

Residential sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) hit an all-time high for the month of May as home sales continue to trend upward in the Region. There were 752 properties sold in KW and area which represents a 19.6 per cent increase compared to May of 2015, and a 27.7 per cent increase compared to the five-year average for the month of May.

This is the first time since 2007 that residential sales in May exceeded seven hundred units. Year-to-date sales for 2016 also hit an all-time high with 2,776 homes sold in the first five months of the year, 19.2 per cent above last year’s total for the same period and 21.0 per cent above the five-year average.

As sales continue their upward trend, active residential listings are down in comparison to the same time last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of May is at 1,283 which are 26.1 per cent lower compared to same period last year. This translates to 35.2 per cent fewer available listings on the market today than the same time last year.

“If you’re a seller, this is a great time to sell,” says Charlotte Zawada, President of KWAR. “For buyers, the challenge is with our lower than usual inventory, they often themselves competing with other buyers, for the same property.”

With steady interest rates expected into the later part of 2016 and early 2017, conditions are still favourable from a financial perspective, noted the President of KWAR. Employment growth will only help fuel continued demand, and we should see balance market conditions return for the foreseeable future in Waterloo Region. “In this type of heated market where multiple offers are common having an experienced REALTOR® in your corner can provide you a definite advantage whether you’re looking to buy or sell,” says Zawada.

May’s sales included 474 single detached homes (up 15.6 per cent) and 166 condominium type units (up 37.2 per cent) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc.). Sales also included 47 Semi-detached homes (down 11.3 per cent) and 56 freehold townhouses (up 27.3 per cent).

The average sale price of all residential sales increased 7.3 per cent to $378,248 compared to May 2015. Single detached style homes sold for an average price of $438,708 an increase of 9.8 per cent compared to last year. The average sale price for an apartment style condominium was $221,073, a decrease of 1.2 per cent. Townhomes and semis sold for an average of $277,355 (up 1.1 per cent) and $296,751 (up 10.2 per cent) respectively.

Important information

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®. With a REALTOR® at your side, you can have all the facts you need to make an informed decision.

The Kitchener-Waterloo Association of REALTORS® (KWAR) is a member focused not-for-profit Association representing over 1,200 local REALTOR® members. The Association was formed in 1937 and continues to provide a robust Multiple Listing Service® (MLS®) System, continuing education, and related services to its members. The term REALTOR® is a trademark identifying members in good standing of CREA who provide real estate brokerage services in compliance with CREA's By-Laws and Rules, the REALTOR® Code, and in compliance with all applicable federal and provincial laws and regulations. The MLS® trademark is also owned by CREA and is used by the KWAR under license. The MLS® Marks identify professional services rendered by members in good standing of CREA to effect the purchase and sale of real estate as part of a co-operative selling system (the "MLS® services"), in compliance with CREA's By-Laws and Rules, the REALTOR® Code, and in compliance with all applicable federal and provincial laws and regulations. The MLS® System of the KWAR is operated in association with the MLS® Marks. An MLS® System includes an inventory of listings of participating REALTORS®, and ensures a certain level of accuracy of information, professionalism and co-operation amongst REALTORS® to affect the purchase and sale of real estate.All of KWAR's listings may be found on the public website: www.REALTOR.ca.

 

Read More
Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Mortgage broker Kitchener, mortgage broker waterloo, mortgage broker, The Mortgage Centre, mortgage broker KW, Housing Sales, KWAR